Date Received: 2021-09-28
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: I called Shellpoint Mortgage in XX/XX/XXXX to request a forebearance to avoid negative reporting on my credit due to my continued financial hardship due to COIVD. I was told that I could have a 3 month forebearance and that the process was started right away. It was my understanding that my credit would not be affected. In XXXX, I finally recieved an SBA loan and I was able to get caught up on my payments, and bring my account current, but Shellpoint has reported me 30 days and 60 days late on my credit. Prior to COIVD I had excellent credit with no late payments and made it through XXXX amd XXXX without any late payments until this reporting by Shellpoint. It seems to me that since I was told that I would be given a 3 moth forebearance in XXXX and that I was able to pay my account current at the end of the 3 months that my credit should not be negatively affected. I do not understand why the company would want ot cause this type of harm to someone in such a devisating time.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CA
Zip: 92562
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: My mortgage loan was transferred from XXXX mortgage servicing to Shellpoint Mortgage Servicing around XX/XX/2020. Prior to my loan being with XXXX, my loan was with XXXX XXXX XXXX. When Shellpoint Mortgage servicing took over my loan they changed the way my overage payments were being applied. When I say overage payments, I am referring to any amount I pay over my monthly mortgage payment. Previously, all of my overage payments would go into a suspense account where they would be held until they equaled one mortgage payment. Unknown to me, Shellpoint was routing all of my overage payments to the fees on the loan. The fees on the loan are usually held at the back of the loan and overage payments typically do not go to them. They are resolved when the loan is paid for. Also, fees typically go to the profit line of the mortgage servicer. So Shellpoint has a financial incentive to route all of my extra payments to the back of the loan as it pads their profit. I requested that Shellpoint apply my overage payments like XXXX and XXXX had applied my payments which was to suspense. I even called both companies and they could not understand why Shellpoint was applying my extra payments immediately to fees. Both XXXX and XXXX confirmed to me that they did not apply my payments like that. Now this is where the lying and devious behavior starts from Shellpoint. I filed several complaints through the TN Attorney Generals office. The complaints went to Compliance at Shellpoint. It has been very difficult to get a firm answer from Shellpoint on the payment issue. Their compliance agent, Like an attorney, has equivocated and has repeatedly refused to directly answer the question. This is very difficult to explain but I will try. Shellpoint insisted that the payments from XXXX mortgage and XXXX were applied to fees. Shellpoint was devious and misleading in their response. The overage payments held in suspense WERE applied to fees by the previous mortgage servicers WHEN THE ACCOUNT WAS TRANSFERRED. During the years my account was with ocwen all of my overage payments went to suspense. Same for XXXX servicing. So the Shellpoint Compliance agent intentionally conflated the issue. I was not referring to any payments in suspense when the loans were transferred or modified. Shellpoint knew this. I requested that Shellpoint apply my extra payments to suspense. Or to principle. I dont care which. The Shellpoint escalation agent on the phone stated to me that they would put a 'critical warning note'on the file and he said even if the payment went to fees all I had to do was call in and notify Shellpoint of this and they would reverse the payment back to principle or suspense. When the Shellpoint agent responded to my request where I asked that they put this in writing, as the state of Tennessee only honors what's in writing, the agent refused and the agent said two different things at two different times. The agent stated i could request that the fees be reversed but the agent never gave any confirmation that Shellpoint would honor my request. It's a very simple thing. Say that you will honor my request. The agent refused. The agent then stated that they would apply the payment in line with my original loan documentation and would only apply extra payments to the principle or suspense if I sent in the payment coupon. I have for years now made my payments via moneygram wire transfer or XXXX wire transfer. Shellpoint offers electronic payments as a payment option. So I cant send a payment coupon when making my payments via wire transfer. Shellpoint knows this too. Shellpoint is intentionally making it difficult for my extra payments to apply to principle or suspense by demanding payment coupons when they are well aware homeowners can not send a payment coupon when they make their payments electronically. So I'm back at square one. I want Shellpoint to say they will honor the critical warning note on the account, which their agents have stated twice over the phone to me, both their compliance agent and the escalation agent, that they would honor - however, when it comes to written correspondence shellpoint equivocates and will not confirm my interpretation of the critical warning note iscorrect. They wont even confirm the interpretation of this note and what it means as explained to me by their len escalation agent is correct as well. This leaves me, the homeowner, not knowing what to believe. Shellpoint uses wording like 'the homeowner CAN REQUEST for the payments to be reversed but it never states that they will COMPLY. Shellpoint then reiterates they will apply the payments per the original loan documents but Shellpoint fails to understand that if my payments were being applied differently all those years that constitutes a CHANGE TO MY LOAN TERMS and they are not allowed to suddenly REVERSE THAT CHANGE by going back to original loan documents. Shellpoint then decides to simply be devious and claim ignorance of how my payments were previously applied by the previous servicers by falsely saying " oh the payments went to fees '' and not clarifying this was only when the loan was either modified or transferred and not when the loan was being regularly serviced. I can not use a payment coupon as I make my payments electronically through moneygram and now moneygram does not even use a form. My information is in their system and the agent takes the payment and pulls up the account and enters nothing in there. So this is why Shellpoint agreeing to honor the critical warning note on the account is vital. Why tell homeowners that note will be put on the account as directive to how to apply payments as their agents have told me then walk it back in written correspondence and say 'oh it's just informational only ' which is downplaying the importance of that note. It's wrong for Shellpoint to act so deceptive with me and to tell me one thing over the phone and put a different thing in writing. Shellpoint is not dealing with me in good faith. Shellpoint is actually a bad actor and is putting their profit margin before doing what's right for the homeowner. I consider what Shellpoint is doing to be abuse. because they are constantly misleading me and telling me different things. All I want is for them to agree that they will apply my overage payments to principle or suspense and by shellpoiny steadfastly refusing to admit to this in writing ( although they readily admit to it on the phone ) it leaves me frustrated and confused and feeling taken advantage of. I will post this complaint online and I will now post all of their responses online as well. the way they are treating me needs to stop.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 75240
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: PLEASE HELP!!!! This crooked mortgage servicing company is making it difficult to get on the covid defferal mortgage plan. My loan qualifies for this plan as confirmed by the customer service rep i spoke with. However, this company has created a very complicated " applications '' process to get the paperwork processed. The rep insists its not an " application '' but an " evaluation '' but they are asking so many questions its no different than applying for the home loan the first time to purchase. I was told by XXXX service reps that there is no applications process to qualify for the defferal plan. I already attested to the Shellpoint rep that i'm working and able to resume payments once the forbearance ends but that wasn't enough. He wants to know when my financial challenges started, how it affected my family, who in the family was affected? All manner of unrelated intrusive and UNLAWFUL questions. This is criminal. Please please go after these crooked companys. They're out to destroy hard working families.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: TX
Zip: 77406
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I attempted to refinance with the company NewRez LLC and they lied to me through the entire process. First and foremost I was told my rate was locked and signed a Loan Estimate ( attached ) with a rate of 2.75 % and {$1000.00} lender credits in points. I have an email on XX/XX/XXXX ( attached ) from my loan officer clearly stating the rate was locked and that I should be receiving docs on this. These docs were seemingly never sent and when I asked to see them in early XX/XX/XXXX I was told they were " expired '' and I could not access them. They then sent me an Initial Closing Disclosure on XX/XX/XXXX which had the {$1000.00} in lender credits removed. When I confronted them about this the loan officer told me it was because my property type is actually a condo and not single family. That was a lie because I submitted the application as a condo, and my current mortgage is managed by them as a condo for the exact address. I proceeded to press the Loan Officer about how this mistake was made, and at first he deceivingly told me that the price change is because the home is " no longer a single family home but now a condo ''. I cornered him into his own lie, and he finally admitted it was his mistake and there is nothing he can do about it. I'd say this is a textbook bait and switch as I gave them the correct information and it's up to them to handle it correctly. They then proceeded to inform me on XX/XX/XXXX that if I wanted to proceed with the deal I had to elect their closing attorney, which I had not. The property is located in the state of South Carolina where it is up to the buyer to select an attorney. They told me that the deal required their attorney and redacted my documents in an email on XX/XX/XXXX ( attached ). They then pushed me to schedule to close on Saturday XX/XX/XXXX and told me I needed to use their closing attorney to do so. Mind you, they scheduled the closing appointment on XX/XX/XXXX for XX/XX/XXXX and I had yet to sign the Initial Closing Disclosure. If I'm not mistaken TRID laws require Initial CD to be signed three days before closing. The next day on XX/XX/XXXXthey sent me the final closing documents which my rate became even higher than what they originally quoted me at. It went from 2.75 % with $ XXXX in lender credits, to 2.75 % with a {$3100.00} rate buy-down of 0.75 % in points. I confronted the loan officer on the points buy-down he told me that if I " wanted those to go away, the interest rate will just be higher. '' He was explaining this to me as if I didn't understand the concept of rate lock. It was at that point I knew I could not trust these people and cancelled the deal. Additionally, their website indicated my rate is locked, although it clearly was not. I was never informed what so ever of floating points which is what the CD indicates. I was told my rate was locked. After telling them the refinance was cancelled, they proceeded to harass me attempting to steam roll the deal onto me with several phone calls, voice mails, and emails indicating that i should speak with a " professional '' on why things changed. This company is seriously up to no good. I told them three times that this deal is cancelled, they stated they received notice of my cancellation, and are still harassing me with openings for closing appointments. Additionally the Initial Closing Disclosure and Final Closing Disclosure have different loan amounts indicating a change of circumstance which I was never officially notified of.
Company Response:
State: SC
Zip: 29403
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I need a response from my mortgage servicer ( NewRez ) regarding an error on a recent mortgage statement and payment of myXX/XX/2021 Property Taxes. I mailed an original copy of myXX/XX/2021 Property Tax Notice to NewRez onXX/XX/2021.NewRez is to pay the taxes from my Escrow Account. See the attached copy of this XX/XX/2021 Property Tax and Notice and a screenshot from the USPS website which shows NewRez received and signed for this notice on XX/XX/2021. Im asking that NewRez answer questions 1 and 2 below 1.Does NewRez have the XX/XX/2021 Property Tax Notice which was sent by me through USPS and when do they intend to pay the property taxes due from my escrow account in the amount of {$2200.00}. 2.Why did I receive a statement dated XX/XX/2021 with a Payment Due Date of XX/XX/2021 with a Payment Amount of {$0.00}? Why does this statement show a Payment Amount of {$0.00}. I have included two attachments. One attachment contains both the 2021 Property Taxes due to be paid by NewRes and my. XX/XX/2021 statement. The other attachment contains a screenshot of the confirmation of delivery to NewRez of my XX/XX/2021Property Tax Notice.
Company Response: Company believes complaint is the result of an isolated error
State: NC
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-09-28
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-28
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have consistently paid my mortgage on time and in advance on good occasions. When Covid hit, my job went into part time, and I was now on unemployment, but still trying to pay my mortgage. In XX/XX/XXXX my statement from the company newrez was balanced. I paid two checks one for the mortgage and one for partial payment to the next month. I continued trying to make my payment in advance. In XX/XX/XXXX I was paying XX/XX/XXXX payment or part thereof. I got a statement showing I was owing for XX/XX/XXXX. Could not get a resolve from the company. At the end of XX/XX/XXXX I got a letter stating to send the XX/XX/XXXX payment to a new address. My loan had changed hands. My XXXX and XXXX payment had already been paid. There after the company began to become hostile. The dollars were adding up on my loan. No one to talk to due to Covid and the long wait on the line. I then realized that my monthly payment had changed. It went up. That shocked me. I was not notified of this change. I wrote a letter to the company on XX/XX/XXXX when I submitted my mortgage payment. Again on XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX and XX/XX/XXXX asking that they please correct the error in my loan and bring it to the correct balance if I owe them, but they are showing I owe over {$10000.00} in mortgage payments which is not correct. THE COMPANY SHELLPOINT HAS ALSO THREATEN ME WITH FORECLOSURE OF MY LOAN. I ask them to please provide me the following for reconciliation of my loan : 1 : What month date and year the loan changed hands as my payment could have gone elsewhere. 2 : Why did my loan payment changed or rather increased my loan is a fix rate. 3 : What was the first payment the new company received from me 4 : To provide a list of payments they received. 5 : To rerun my loan amortization table for the last 36 months to determine the error. I got a letter from the lenders insurance department. I told them I have had the same insurance company since I bought the house. The policy is always paid yearly. I checked with the insurance broker. They said they have not received a call from my lender or anyone else. My policy has never lapsed. The representative of shellpoint asked my insurance company name and number and I gave it to them. I need help please in fixing this mess as Shellpoint is not operating ethically. something is not correct, including my monthly payment balance. Please help me to resolve this.
Company Response: Company believes the complaint provided an opportunity to answer consumer's questions
State: CA
Zip: 94107
Submitted Via: Web
Date Sent: 2021-10-14
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-27
Issue: Trouble during payment process
Subissue:
Consumer Complaint: On XXXX XX/XX/2021, I applied for and locked a rate of 2.99 %, on a refinance mortgage loan for my property located in XXXX, CA. On or about XXXX XX/XX/2021, I received a Notice of Servicing Transfer from the current servicer ( XXXX XXXX XXXX XXXX XXXX XXXX, GA XXXX ; ph. XXXX ). The correspondence indicated that servicing of the loan would transfer to Shellpoint Mortgage Servicing ( XXXX XXXX XXXX, XXXX, SC XXXX ; ph. XXXX ), effective XXXX XX/XX/2021. On XXXX XX/XX/2021, in response to a request from my refinance mortgage broker, I contacted Shellpoint seeking information ( loan number, payoff amount, payoff address, etc. ) on the transferred loan for the property in XXXX. I was informed that no record of a loan for that property existed in the system. I was advised to wait a few days before rechecking. Also on XXXX XXXX, I also contacted XXXX XXXX, which confirmed that the loan transferred ( in now closed ) and that the balance owed was {$0.00}. XXXX XXXX was unable to provide any information on the Shellpoint loan. On XXXX XX/XX/2021, I placed another call to Shellpoint seeking information on the loan. Again, I was informed that no record of a loan for the property in XXXX existed. The representative suggested that that a new loan could take up to 60 days to show up. They also provided an email ( XXXX ) where I could seek additional assistance. I sent an email to the address on XXXX XX/XX/2021, seeking urgent assistance in locating the loan so that the payoff information could be provided to the refinance broker. As of XXXX XXXX ( 27 days after the loan purportedly transferred ), I have not received any response or written communication from Shellpoint, violating 21 CFR 1024.33 ( b ) ( 3 ) ( i ) of Regulation X. As the payee and payoff of the loan can not be determined, I am unable to proceed with the refinance of this property. The rate lock ( which is at a lower rate compared to the existing loan ) is expiring within 2 days, and based on current market conditions I will not be able to relock at the same rate. When the lock expires, the lack of compliance on the part of Shellpoint will have resulted in monetary damages, from the incurred costs associated with the refinance loan, as well as the missed savings based on the difference in loan rates. I am seeking assistance of CFPB in resolving this matter with Shellpoint to locate my loan number, payoff amount, and payoff address.
Company Response: Company believes complaint caused principally by actions of third party outside the control or direction of the company
State: CA
Zip: 92780
Submitted Via: Web
Date Sent: 2021-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-27
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: To whom it may concern, We entered into a 12 month forbearance and when agreed to a loan modification after the forbearance period ended. The forbearance ended XX/XX/XXXX and we were told that our first payment will not be be due until XXXX XXXX. When this was all agreed upon with our contact person at Shellpoint mortgage servicing, we received notification that Shellpoint mortgage servicing reported our account as 30 days late. The company did not tell us that a late payment will be reported if payment was not made in XXXX. I even asked our representative at the company and she told me that the loan modification begins on XX/XX/XXXX and no payment is due in XXXX. I have tried talking to them about this and they said that the forbearance ended XX/XX/XXXX so a late payment was reported because we didn't make a payment in XXXX even though I told our representative that she told me that no payment was due in XXXX. The explanations did not make any sense whatsoever. they said they send a letter in the mail, but I did receive any letter that confirms a late payment will be reported if payment was not made in XXXX especially since we had already worked on a loan modification.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 92807
Submitted Via: Web
Date Sent: 2021-09-27
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-26
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: I was in forbearance due to COVID and have been in a workout plan with current servicer to resolve past due fees owed. A loan modification was presented to me which increased the monthly payment instead of making the mortgage more affordable so I had declined the modification agreement. Servicer advised a valuation needs to be ordered to qualify me for a more reasonable modification agreement which is currently in process. While we are waiting for the valuation, the Servicer reported me as being 60 day late to the credit bureaus. Aren't the Servicers suppose to help consumers develop a reasonable workout plan and not further damage them with incorrect reporting to the credit bureaus? Please help clarify the current laws regarding reporting requirements for consumers attempting to exit forbearance as a result of COVID
Company Response: Company believes the complaint is the result of a misunderstanding
State: CA
Zip: 92705
Submitted Via: Web
Date Sent: 2021-09-26
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-09-24
Issue: Closing on a mortgage
Subissue:
Consumer Complaint: I Have requested a conditional lean release from Shellpoint Mortgage on my Mobilehome property to close a sale, initial request was made XX/XX/2021. Information has not been provided after several calls made to Shellpoint and talking to at least six different contacts. The sale of my home is in serious jeopardy as Shellpoint has failed to comply. This matter needs to be addressed immediately.
Company Response: Company believes it acted appropriately as authorized by contract or law
State: CA
Zip: 91773
Submitted Via: Web
Date Sent: 2021-09-24
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A